Knight Frank to market KLGCC's resort villas

  • Business
  • Wednesday, 05 Nov 2003

KNIGHT Frank Malaysia, which has established a strong presence in the local market, will be responsible for the marketing of Kuala Lumpur Golf & Country Club’s (KLGCC) upcoming residential property project comprising 128 upmarket resort villas. 

Its chairman Datuk Michael Cheah said this at a media briefing in Kuala Lumpur yesterday in conjunction with the ongoing Knight Frank Asia Pacific regional conference. 

He said the company had also advised on valuation of properties with an aggregate value in excess of RM2bil since it started operations in September 2002. 

Recently, the group also undertook the sale and leaseback of Bangunan Shell Malaysia by tender for RM79mil, which was successfully completed in six months. Other achievements included its appointment as a consultant and project manager to Commerce Asset-Holding Bhd to handle the acquisition of its new corporate head office building. 

On prospects for the real estate industry, Cheah said: “Tracking certain patterns within the market, we see some interesting developments. With approvals for new office developments in Kuala Lumpur having been frozen, limited new supply has resulted in occupancy rates of prime office space reaching 80% and rents firming up at about RM4 to RM6 psf per month,” he said. – Bernama 

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